Keefe, Bruyette & Woods began coverage on shares of Encore Capital Group Inc (NASDAQ:ECPG) in a report issued on Wednesday, May 24th, Marketbeat reports. The firm issued an outperform rating and a $45.00 target price on the asset manager’s stock.
Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Encore Capital Group from a sell rating to a hold rating and set a $42.00 price target on the stock in a research note on Thursday, May 11th. Janney Montgomery Scott downgraded shares of Encore Capital Group from a buy rating to a neutral rating and dropped their price target for the stock from $36.00 to $32.00 in a research note on Friday, February 24th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $32.50.
Shares of Encore Capital Group (NASDAQ:ECPG) traded down 1.15% during midday trading on Wednesday, hitting $38.70. The stock had a trading volume of 316,711 shares. Encore Capital Group has a 52-week low of $17.66 and a 52-week high of $39.30. The firm has a market cap of $996.02 million, a price-to-earnings ratio of 13.79 and a beta of 1.88. The firm’s 50 day moving average price is $36.96 and its 200 day moving average price is $32.26.
Encore Capital Group (NASDAQ:ECPG) last released its quarterly earnings results on Thursday, May 4th. The asset manager reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.02. Encore Capital Group had a net margin of 7.21% and a return on equity of 13.72%. The firm had revenue of $271.94 million for the quarter, compared to the consensus estimate of $280.93 million. During the same quarter in the previous year, the firm posted $1.31 EPS. The firm’s quarterly revenue was down 5.9% on a year-over-year basis. On average, equities research analysts expect that Encore Capital Group will post $3.74 earnings per share for the current year.
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Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in Encore Capital Group during the fourth quarter valued at approximately $8,662,000. FMR LLC raised its position in Encore Capital Group by 74.9% in the first quarter. FMR LLC now owns 616,608 shares of the asset manager’s stock valued at $18,992,000 after buying an additional 264,085 shares during the period. Peregrine Capital Management LLC purchased a new position in Encore Capital Group during the first quarter worth about $6,795,000. Vanguard Group Inc. raised its position in Encore Capital Group by 8.6% in the first quarter. Vanguard Group Inc. now owns 2,128,159 shares of the asset manager’s stock worth $65,547,000 after buying an additional 169,254 shares during the last quarter. Finally, William Blair Investment Management LLC raised its position in Encore Capital Group by 7.7% in the first quarter. William Blair Investment Management LLC now owns 2,250,437 shares of the asset manager’s stock worth $69,313,000 after buying an additional 161,788 shares during the last quarter.
About Encore Capital Group
Encore Capital Group, Inc, through its subsidiaries, is a specialty finance company providing debt recovery solutions for consumers and property owners across a range of financial assets. The Company operates through Portfolio Purchasing and Recovery segment. The Company’s geographical segments include the United States, Europe and other.
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